China now exports every six hours as much as it did in the whole of 1978!
Update 1 (4/8/2010)
Over the past 30 years, its 10% growth rate has lifted 566 billion people over the $1.08 "extreme poverty" threshold set by the World Bank. Yilmaz Akyuz, chief economist of the South Centre, estimates that close to 60% of China's imports are used in the export sector and only 15% of imports are for domestic consumption and exports may have contributed to 50% of China's pre-crisis growth.
1 comment:
While the numbers are indeed amazing, it may be worth studying how it was achieved - that may not be worth writing home about. Is that sustainable ? And what methods did they use ? These are all hidden from the economists who just look at the final numbers.
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